Latest articles from Benjamin Mercer

New GMP guidance stops short of clarifying rules around conversion

New guidance on guaranteed minimum pensions has clarified the tax implication of equalising past inequalities between men and women, but critics have said it leaves unaddressed important questions for schemes hoping to convert GMPs into regular scheme benefits.

Nest eyes 2026 breakeven amid increased revenue

On the go: Master trust Nest has seen its income rise 75 per cent over the course of last year while its expenditure fell by £20m, leaving it well placed to weather the effects of the coronavirus pandemic, according to its latest annual report.

Government ponders solutions to £17bn McCloud problem

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The Treasury has set out two proposals for ending the discrimination between scheme members that resulted from its 2015 public sector pension reforms, with costs of unwinding its scheme changes estimated to cost £17bn.

LGPS faced with huge McCloud admin challenge

On the go: Local Government Pension Scheme administering authorities urgently need to carry out impact assessments to clarify how many of their members fall under the scope of the McCloud judgment, according to Aon.

USS strikes £300m deal with with affordable housing investors

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The Universities Superannuation Scheme has entered into a £300m 45-year debt facility arrangement with a real estate investment trust to boost shared ownership housing developments.

Trend towards master trusts continues apace

On the go: The rate at which FTSE 250 companies move to master trusts as their main defined contribution vehicle is set to accelerate over the next two years, according to a new report from Willis Towers Watson.

Market volatility leads to attractive returns in low-risk credit

On the go: Pension schemes should consider adopting high-quality, low-duration credit strategies such as asset-backed securities as an alternative to traditional bond allocations when looking to derisk their portfolios, according to a new report from Aon.

£4m lost to new forms of large-scale fraud

On the go: Fraudsters are targeting investors with new, innovative and large-scale scams, according to a report by the Investment Association published today.

Pension schemes bill could have ‘unintended consequences’

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Podcast: The Pensions and Lifetime Savings Association’s LGPS and DB policy lead Tiffany Tsang and Eversheds Sutherland partner Jeremy Goodwin join us to discuss potential “unintended consequences” from the pension schemes bill, fallout from the insolvency bill, and Richard Curtis’s Make My Money Matter campaign.

Covid-19 could lead to 75% hike in deficit repair contributions

Deficit repair contributions may need to increase by 75 per cent if defined benefit schemes are to meet their recovery plan end dates, according to analysis published by the Pensions Regulator.